that we need to go forward in getting our economy turned around, in reducing our deficit in creating jobs. so i think when jim deminute looked around, he looked and saw a future where he would be standing by himself very often and likely face ago dwindling even greater dwindling number of tea party advocates and allies. i think he headed for the doors because he thinks that probably, as he said, the only way he's going to have a significant impact is through a think tank. >> to switch over to your side of the capitol the house of representatives, the tea party there seems to be playing defense. i know alan west, one of your close buddies was upset that he lost, he is gone. how does it feel when you look at john boehner the speaker republican leader and he knows every day that the tea party which had held him hostage the last two years the tea party in the house is playing defense, as well it seems. >> well, i was playing more than defense. unfortunately it feels like in the house the tail continues to wag the dog. you still seem to have a leadership on the republican side in the house led

." and brian beutler and eric bates. what's your take on this? how severe will the harm be to the economy if we do not have a deal by december 31st. >> the macroeconomic harm is not going to be that great. our economy is adaptable adjustable. these things take place over the course of a year. for some people it is a cliff. the payroll tax cut will expire. if you're a working person, you're losing $40 to $50 a week immediately in your first paycheck. the unemployment benefits will expire. if you're dependent on that, your income will fall off the cliff. if you're someone who listens on dividends and financial gains, the fact that tax on those will rise will not put a crimp in your lifestyle and you may not be taking any capital gains until june, july, august, september. those who are most vulnerable are those on the lower income ladder and who are benefiting from the benefits that will expire, they will feel like they're going over a cliff. >> eliot: brian, let me turn to you, politically am i not correct? the pieces of the tax impact that dan was just talking about that would have the greatest

of the largest problem in our economy, lack of equity, lack of demand. the middle class being squeezed, get the economy going. somehow we forget that problem. that's what trouble's me. >> that's exactly right. this is where i think president obama is doing a really good job staying focused on the fact that we have got to have revenue. they've got to come from the top 2%. that's got to be part of a long term deficit reduction program. if we don't do that, the in equity that you just spoke about, the maldistribution that is going to intensify the pressure will be there if we don't get revenue to make yet more cuts on revenue unscientific research, all those things that provide some minimum safety net bottom line, the president i think is doing a good job hanging tough on the obvious, and that is if you're going to get revenues from the top 2%, we've got to go back to the clinton tax rates. down the road, maybe make adjustments, but right now hang in there. >> i think that is exactly right. certainly last year in the fiscal deficit negotiations, we were upset when he caved in the end of the da

. ♪ ♪ the trucks are going farther. the new 2013 ram 1500. ♪ ♪ with the best-in-class fuel economy. engineered to move heaven and earth. ♪ ♪ guts. glory. ram. then how'd i get this... [ voice of dennis ] ...allstate safe driving bonus check? what is that? so weird, right? my agent, tom, said... [ voice of dennis ] ...only allstate sends you a bonus check for every six months you're accident-free... ...but i'm a woman. maybe it's a misprint. does it look like a misprint? ok. what i was trying... [ voice of dennis ] silence. ♪ ♪ ask an allstate agent about the safe driving bonus check. are you in good hands? >> eliot: you've got to give credit to alan simpson. the 81-year-old retired senator is pressuring congress to lower the debt, he's reaching out to the internet generation. all i can say is the man from wyoming knows a thing or two about riding a horse. [ ♪ music ♪ ] >> stop instagramming your breakfast and tweeting your first world problems and getting on youtube so you can see gangnam style. [ ♪ music ♪ ] >> and start using those precious social media skills a

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